LenderLink Philippines, a fintech startup building the Philippines’ first high-tech, real-time credit bureau, raised $1.25 million in an oversubscribed pre-seed funding round led by venture firms Iterative and Kaya Founders, the company said.
The pre-seed round, the startup’s first external raise since its founding last year, also included backing from Founders Launchpad and a consortium of angel investors spearheaded by Manila Business Angels.
LenderLink’s API-first platform is designed to enable lenders to report and access consumer credit risk data in real time, addressing high default rates that drive up borrowing costs and constraining consumer lending growth in the Philippines.
The network has integrated five lending ecosystems.
“We have observed that one of the biggest barriers to affordable lending in emerging markets is the lack of real-time credit data infrastructure,” Christo Georgiev, chief executive officer of LenderLink, said. “With this funding we are bringing credit into the tech age, leveraging AI, data science and automation to empower lenders and help consumers rehabilitate their credit profiles safely.”
Ray Alimurung, general partner at Kaya Founders, said the calibre of LenderLink’s founding team and its clarity of vision set it apart.
“We have deep conviction that LenderLink’s ability to deliver real-time, high-quality credit data will be a game-changer for an ecosystem that has traditionally struggled with fragmented and outdated information,” Alimurung said.
The funds will be used to accelerate technology development, expand commercial operations and forge partnerships with financial institutions. LenderLink also plans to broaden its network to include digital banks, buy now, pay later providers and lenders.
The Philippine consumer lending market has grown fourfold over the past decade to an estimated $14 billion but remains hampered by outdated infrastructure.
LenderLink aims to unlock further growth by providing smarter risk assessment tools and enabling fairer access to credit.